Natixis Sells 43,057 Shares of CDW Co. (NASDAQ:CDW)

Natixis reduced its position in shares of CDW Co. (NASDAQ:CDW - Free Report) by 83.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,594 shares of the information technology services provider's stock after selling 43,057 shares during the quarter. Natixis' holdings in CDW were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CDW. Vanguard Group Inc. lifted its stake in CDW by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock valued at $2,901,905,000 after buying an additional 99,947 shares during the period. Geode Capital Management LLC raised its position in shares of CDW by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock valued at $614,220,000 after acquiring an additional 54,341 shares during the period. Wellington Management Group LLP boosted its stake in CDW by 29.2% during the 4th quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after acquiring an additional 574,444 shares during the last quarter. Invesco Ltd. grew its holdings in CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock valued at $422,351,000 after purchasing an additional 524,559 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in CDW by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after purchasing an additional 575,333 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CDW shares. Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Citigroup decreased their target price on CDW from $220.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. UBS Group dropped their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Barclays increased their target price on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.38.

CDW Trading Up 2.4 %

NASDAQ:CDW opened at $152.03 on Wednesday. The company has a market cap of $20.03 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 3.21 and a beta of 0.97. CDW Co. has a twelve month low of $137.31 and a twelve month high of $248.12. The business has a 50 day moving average price of $166.14 and a two-hundred day moving average price of $182.47. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. As a group, analysts expect that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.625 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.64%. CDW's payout ratio is presently 31.37%.

CDW declared that its board has authorized a stock buyback program on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.